All loans are subject to CaixaBank's risk approval criteria.
1. The financing of the tuition fees for each academic year must be accredited by official documentation from the school where the studies are to be undertaken that show the amount and duration of said studies.
2. The grace period is optional. During that period, the customer can make drawdowns on the total amount granted. Thus, the monthly payments will only correspond to the payment of interest on the amounts made available and therefore no capital will be repaid during this period. After the grace period, no more drawdowns may be made. The total amount debited with a grace period is higher than the total amount without a grace period.
3. At the time of the loan application, the total amount to be requested must be indicated, although it will be made available in different academic years or semesters. Thus, every year or semester you must indicate how much of the total loan you wish to have available. Only annual or six-monthly drawdowns can be made during the grace period; these will correspond to the cost of the tuition fees and additional expenses related to the studies. To make drawdowns, the student must show proof of having passed at least 70% of the credits from the previous academic year. You will therefore be requested to show both registrations and confirm that 70% of the credits for which you are registering are different to those of the previous academic year.
4. Degree/Master's Degree Study Loan. Representative example 1: 8.26% APR calculated for a loan of €10,000 that is drawn up annually during the first 4 years, each of which represents 25% of the capital borrowed. NIR: 7.5% fixed. Start-up fee: 2.0%. Capital grace period: 5 years. Repayment term: 5 years. Total term of the operation: 10 years. Total amount borrowed: €14,847.89 (capital €10,000 + interest €4,647.89 + arrangement fee €200). Monthly payment amount during the grace period: €15.63 in the first year, €31.25 in the second year, €46.88 in the third year and €62.50 in the fourth and fifth years. Monthly payment amount during the repayment period: 60 payments of €200.38. Representative example 2: APR 8.41% calculated for a loan of €10,000 that is drawn up annually during the first 2 years, each of which represents 50% of the capital borrowed. NIR: 7.5% fixed. Start-up fee: 2.0%. Capital grace period: 3 years. Repayment term: 3 years. Total term of the operation: 6 years. Total amount owed: €13,273.16 (capital €10,000 + interest €3,073.16 + arrangement fee €200). Monthly payment amount during the grace period: 31.25 for the first year and €62.50 for the second and third years. Monthly payment amount during the repayment period: 36 payments of €311.06.
5. If the period remaining between the redemption date and the final maturity is more than one year, the fee will be 1% on the amount of the reimbursed loan. If it is 1 year or less: 0.5%. Never higher than the interest that would accrue on that amount until maturity.
Information valid until 31/12/2020.
Industrial Registry Number: 17297-2019-5555
